Leopalace21 (TYO:8848) secured a 30 billion yen loan from Mizuho Bank (TYO:8411) to refinance debt from Biwa Godo Kaisha, an affiliate of Fortress Investment Group, according to a Friday filing on the Tokyo Stock Exchange.
The agreement includes a one-year commitment period and a three-year term loan period. Interest rates are JPY Tibor + 2.50% for the commitment line and JPY Tibor + 3.50% for the term loan.
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